Heartwood Partners LLC, headquartered in Norwalk, Connecticut, has announced a growth investment in The Amlon Group that was finalized in December 2021 in partnership with the founders and management who will continue to lead the company.
The Amlon Group, Plano, Texas, is an environmental services company focused on recycling, processing, treatment and management of metal- and nonmetal-bearing industrial and hazardous waste streams.
"Heartwood's growth investment in The Amlon Group significantly enhances our future prospects,” Amlon Group CEO Lee Lasher says. “We are benefiting from Heartwood's Value Creation Specialist team and strong track record in growing niche-leading businesses as we seek to further build upon our leadership position and 30-plus years of experience in processing and recycling of hazardous materials."
The Amlon Group’s environmental solutions protect finite resources by remediating waste and recycling valuable commodities. With increasing landfill-related liability and constraints, as well as growing federal and state regulations, companies today must look for sustainable alternatives when managing their waste, the company says. The Amlon Group is comprised of two closely integrated operating segments that play to this macro trend: Amlon Resources Group LLC ("ARG") and Alpha Omega Recycling Inc. (AORI). ARG acts primarily as a waste management services and logistics company in metal recycling and reclamation, whereas AORI is ARG's in-house waste processor.
Acquired by ARG in 2017 to vertically integrate processing capabilities, AORI is a Resource Conservation and Recovery Act (RCRA) Part B permitted facility, recycling metal-bearing industrial manufacturing byproducts through thermal and other technical processing and recycling capabilities.
"We are thrilled to complete this partnership with the experienced environmental services investors at Heartwood Partners and remain excited about the future,” Amlon Group President Mark Wayne says. “More great opportunities are on the horizon for The Amlon Group."
Heartwood Partners is focused on investing in partnership with family and management-owners. Its approach includes using robust capital structures for companies while providing strategic, operational and human capital development while providing marketing and e-commerce expertise to support long-term growth. This supports organic and acquisition-driven growth into new products and services.
“The Amlon Group has developed an exceptionally strong foundation over its 30-plus year history through deep environmental industry expertise, high-quality service and strong waste processing capabilities. We proactively sought out The Amlon Group. They are a perfect fit with our focus and experience investing in the environmental services and recycling sectors, as well as our approach toward growth through investment in people, processes and add-on acquisitions,” Heartwood Partners Managing Director Demetrios Dounis says. “We intend to drive future growth by leveraging the company's market leadership and scalable infrastructure. We also plan to expand into new markets organically and through strategic add-on acquisitions."
Heartwood Partners Private Equity Income Fund III LP is a $600 million committed fund. Alarian Associates Inc. served as the financial advisor to Heartwood Partners.